12:05pm (EST) I wanted to take some time this morning to talk about how to use the blog and to take better advantage of the information I give out. First of all, thanks to everyone who has signed up for a subscription. I get more fun out of teaching people to trade than I do trading. Except for the Dendreon (DNDN, $24.13, down $0.38) trade which made a lot of people a lot of money. For our new subscribers, type in Dendreon in the Search box and read some past articles from March of this year thru April/ May. Some subscribers made as much as 2,500% on the trade. My point is, I love teaching because I love looking out for the “little guy”. Don’t quote me on this but I read somewhere that only 2% of all brokerage accounts are approved for options. That means that 98% of investors DON’T use options. Incredible. What you are learning from me is something that will last you a lifetime and I want you to remember that. Once you learn how to spot a trade that can return 100% or even 500% then you will realize just how far advanced as a trader/ investor you really are. You have seen me turn trades into triple-digit winners but even some of my close friends still don’t take the time to learn options. When you tell people you made 300% on a Bank of America (BAC, $16.38, up $0.74) trade in less than a week, they roll their eyes. But you and I know it’s true. Watch Boiler Room if you really want to see what I’m talking about. Which reminds me, there is a Wall Street 2 coming out…my point is, take this business seriously and you will be the last one laughing. So here is a breadown of the blog and how to read the current trades. When I enter a trade, my goal is a double (at least). The ENTRY price is listed which also includes the date the trade was entered. I have to be careful of my wording because I can’t say, “Jim, buy 20 contracts of the Dendreon September 30 calls (UQBIF, $0.63, down $0.08) right now”. But I can say I like the options at prices up to 70 cents. Each individual investor is different but you should always try and buy at least 10 or 20 contracts when you are in a position. One or two contracts CAN make you money but I don’t like sitting at the kool-aid tables. So when I get near or hit the 100% mark which is the EXIT target you see listed in the trades then I look at three things: profits, time, and current conditions. This is updated in the ACTION part of the trade breakdown. Stops are listed because I try to limit losses to 50%. As far as some other stuff I’m working on…I am doing some really cool stuff that will include Watch Lists, videos, and maybe a webinar. Just give me time. That is what I’ve been doing on weekends… My point is this is your blog and I want you to get the most out of your subscription as you possibly can. If you are new to options, email me. I will help you set up an account. This is just a quick update and I wanted to keep everyone in the loop. Rick@MomentumOptionsMentoring.com]]>